Accounting Quiz 07

Keeping the log of financial information in books of original entries is called__________?

Grouping

Processing

Recording

Summarizing

Correct! Wrong!

Financial accounting provides financial information to all of the following external users except:

Creditors

Government agencies

investors

Managers

Correct! Wrong!

In accounting an Economic event is referred to as:

Transaction

Exchange of money

Bank statement

Cash

Correct! Wrong!

_________ is the first phase of accounting cycle?

Posting entries to ledger accounts

Identifying an economic event or transaction

Preparing journals

Making decisions about business

Correct! Wrong!

Auditing is what?

Examination of financial statements

Maintaining the ledger records

Reporting the financial information

Preparation financial statements

Correct! Wrong!

Which of the following is the external user of financial statements?

Creditor of the business

Manager of the business

Controller of the business

CEO of the business

Correct! Wrong!

Bookkeeping mainly concerns with which part of accounting process?

Preparing financial statements

Analyzing

Auditing the books of accounts

Recording financial information

Correct! Wrong!

Identify the correct sequence of accounting process

Communicating→Recording→Identifying

Identifying→communicating→recording

Identifying→recording→communicating

Recording→Communicating→Identifying

Correct! Wrong!

For which step of accounting process the accountants of business entity prepare financial statements?

Communication of financial information

Making decisions about business

Identification of economic event

Recording financial information

Correct! Wrong!

Which of the following is the internal user of financial statements?

Manager of the business

Creditor of the business

Government agency

Shareholder of the business

Correct! Wrong!

Accounting Quiz 07

Well Done !

Your parents would be so proud of you :'D

You Could Do Better !!!

Give it another try 😉

Oh Shoot ! Try Again Maybe ?

Try again bachaa :3

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Accounting Quiz 07

Keeping the log of financial information in books of original entries is called__________?

Financial accounting provides financial information to all of the following external users except:

In accounting an Economic event is referred to as:

_________ is the first phase of accounting cycle?

Auditing is what?

Which of the following is the external user of financial statements?

Bookkeeping mainly concerns with which part of accounting process?

Identify the correct sequence of accounting process

For which step of accounting process the accountants of business entity prepare financial statements?

Which of the following is the internal user of financial statements?

About the author

Muhammad Arslan

Keeping the log of financial information in books of original entries is called__________?

Financial accounting provides financial information to all of the following external users except:

In accounting an Economic event is referred to as:

_________ is the first phase of accounting cycle?

Auditing is what?

Which of the following is the external user of financial statements?

Bookkeeping mainly concerns with which part of accounting process?

Identify the correct sequence of accounting process

For which step of accounting process the accountants of business entity prepare financial statements?

Which of the following is the internal user of financial statements?

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About the author

Muhammad Arslan